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India imposes restrictions on gold loans
"Change is in the air", Christine Lagarde, managing director at IMF told reporters in Delhi. In an interview with NDTV’s Vikram Chandra, she said that the European crisis was less acute but not behind us.
11 Jul 2012, 03:25 PM IST 
Sony CEO Kazuo Hirai, left, listens to former-CEO Howard Stringer | Source: AP
Finance Minister Pranab Mukherjee imposed an import duty on gold and raised excise on unbranded jewellery in his budget. The Reserve Bank of India on Wednesday said that all non-banking finance companies (NBFCs), that lend against gold as collateral, should maintain a loan-to-value ratio not exceeding 60 per cent for loans granted against gold jewellery. According to RBI, NBFCs should not grant any advance against bullion/ primary ...
